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FBI reports over 2M November firearm background checks

The Federal Bureau of Investigation reported 2,006,919 total background checks performed in November via the National Instant Criminal Background Checks System, or NICS, according to data published on its website. This compares to 1,534,414 checks in November 2011. The NICS is used by Federal Firearms Licensees to instantly determine whether a prospective buyer is eligible to purchase firearms or explosives, the FBI notes on its site. Shares of publicly-traded gun makers are off their earlier lows, with Smith & Wesson (SWHC) up 7c, or 0.66%, to $10.67 in late morning trading after being in negative territory earlier in the session. Sturm, Ruger & Company (RGR) shares are down 32c, or 0.55%, to $58.27 after falling as low as $56.67 in earlier trading.